Eliot Spitzer’s political career, gravely injured after a collision with reality on Monday, finally passed into the great unknown two days later. But Spitzerism — the soul, that is, of his career — expired months ago.
Unlike virtually every other Democratic politician in the country, Eliot Spitzer understood markets. He believed in the potential of widespread investing in stocks to build and spread genuine wealth, and as attorney general, he was like a Money magazine editor on crack, targeting enemies of small investors: self-promoting analysts, corrupt mutual-fund traders, predatory lenders. Spitzerism wasn't about taxing and regulating profits; it was about diffusing profits to people who have never received a dividend check.

David Paterson just gave his first public address since Eliot Spitzer's resignation yesterday. He made noises about "getting back to work" and the budget, talked about being black and blind, indicated he wasn't planning any major changes to his predecessors more controversial policies, and became the first human being in government to express sympathy for Spitzer himself. "My heart goes out to Eliot Spitzer, his wife Silda, his daughters," he said. "I know what he's gone through this week. In my heart, I think he's suffered enough." Paterson also displayed a rather awesome sense of humor. "Just so we don't have to go through this whole resignation thing again," one ballsy reporter asked, "have you ever patronized a prostitute?" Patterson thought for a minute. "Only the lobbyists," he said.
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